Stuart Joyner News Today

Shell also announced share buybacks of $3.5-billion over the next three months, up from $2.7-billion in the previous three months

Third quarter profit rebounded from prior period amid stronger performance in oil trading but failed to live up to expectations

BP Plc’s third-quarter profit rebounded from the prior period, but fell short of estimates as weak results in gas marketing offset a strong performance in oil…

The London-based company raised its dividend by 10% and said it would buy back another $1.5 billion of shares, even as profits fell more than expected.

BP Plc hiked its dividend and promised to buy back more shares.

Shell said it would exit its investments in Russia, a day after BP said it would do the same. Now companies like TotalEnergies and Exxon will face questions.

2 June 2021 16:30 GMT Updated  2 June 2021 16:30 GMT in  Rio de Janeiro Portuguese oil company Galp Energia has unveiled a fresh strategy to reshape its portfolio by scaling up its renewable energy business and accelerating the path to become net carbon neutral by 2050. In a capital markets day presentation on Wednesday, Galp said it intends to continue focusing on exploration and production assets in Brazil, Angola and Mozambique, whilst progressively transforming its activities ...

Royal Dutch Shell on Thursday made the boldest statement among its peers about the waning of the oil era, saying that its oil production had reached a high in 2019 and was now likely to gradually decline.

Reddit boom-and-bust shines light on European market bubble risk × The retail trading frenzy that shook the US market over the past few weeks made a ripple across European bourses, shining a light on their frothy valuations and showing how easily the party could end. With Europe’s equity benchmark trading at a near record-high valuation level, the word “bubble” is creeping into analysts’ notes. The latest surge came on top of an almost yearlong rally in stocks and corporate bonds, fuel...

BP has offered more evidence that Big Oil has barely begun to heal the wounds from last years historic slump. The Western worlds largest energy producers were supposed to be sailing into the fourth-quarter earnings season with a tailwind from stronger commodity prices, but BPs miss, Exxon Mobils $19bn (€15.8bn) write-down and Chevrons surprise loss show the enduring impact of the Covid-19 pandemic. Earnings fell short of expectations mainly due to weak fuel sales and refining margins. BP – ...